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Candriam Money Market Euro

Marketing Communication. Please refer to the prospectus of the fund and to the key investor information document before making any investment decision. The documents can be obtained free of charge.

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Pierre Boyer
Head of Money Market & Short Term
20 Years of experience
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Elodie Brun
Fund Manager
3 Years of experience
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Benjamin Schoofs
Fund Manager Money Market & Short Term
6 Years of experience
  • ISIN
ISIN
LU0093583077
NAV - 16 JAN 2023
EUR 508,51
AUM - 16 JAN 2023
EUR 1.785.871.470,21
SFDR Category 
Article 8

About this fund

Candriam Money Market Euro AAA (hereafter "the fund"), a sub-fund of Candriam Money Market sicav, aims to offer yields comparable to those of the money market or preserving the value of the investment. The objective of the fund is to benefit from the performance of the market in money market instruments denominated primarily in EUR, with a residual maturity of under 397 days or with an interest rate that is adjustable at least annually, issued principally by good-quality issuers, on the basis of discretionary management. The fund seeks to maintain an AAA rating issued by a rating agency and financed by the fund. The fund may be appropriate for investors who wish to achieve this objective over a very short investment holding period and who are aware of, understand and are able to bear the specific risks of the fund. The investment horizon is 1 month. The fund is actively managed and the investment process implies referring to a benchmark index. For further information on the risks or the benchmark and its use, please consult the fund’s key information document (KID).


Principal assets traded:
Money market instruments and/or bonds with a residual maximum maturity of less than 397 days and with an interest rate that can be revised at least annually, denominated in euros and in currencies of member countries of the Organisation for Economic Co-operation and Development (OECD), and issued by all types of issuers rated at least A2/P2 (or equivalent) by one of the rating agencies (i.e. issuers considered good quality).
Deposits.


Investment strategy:
The fund seeks to achieve capital growth, associated with a low risk level, by investing in the principal assets traded.
Within the limits of the fund’s investment objective and policy, the management team makes discretionary investment choices in the portfolio based on its analyses of the characteristics and growth prospects of the assets traded. The duration (Weighted Average Maturity - WAM), i.e. the sensitivity of the fund to changes in interest rates, will not exceed 6 months and the weighted average life of the fund assets (Weighted Average Life - WAL) will not exceed 12 months.
The fund promotes, among other characteristics, environmental and/or social characteristics but does not have sustainable investment as its objective. Environmental, social and governance (ESG) criteria contribute to the asset manager's decision-making but are not a decisive factor in this decision-making. For more information, please see the management company's website and/or the prospectus.
The fund may only make use of derivative products for hedging purposes (to protect against future unfavourable financial events).


Benchmark:€STR.
The fund is managed actively and the investment approach implies a reference to a benchmark (the index).
Benchmark definition:
The €STR is the short term rate in euros that reflects unsecured overnight borrowing costs in euros for banks in the euro zone.
Use of the benchmark:
- to compare performance.


NAV & Performances

Historical values graph

 

 

Candriam Money Market Euro C - Cap - EUR

This graph represents the synthetic net asset value of the fund. It is provided for information and illustrative purposes only. The synthetic net asset value is obtained by a recalculation of the values of the fund’s assets by leveling out the effect of securities transactions (split, coupon, dividend distribution...) in order to reflect the real performance of the fund share or unit. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses.

Performance

Past performance is not a reliable indicator of future performances. Markets could develop very differently in the future.
It can help you assess how the fund has been managed in the past.

Actuarial Yield

  1 year 3 years 5 years 10 years
Share class -0.48 % -0.76 % -0.77 % -0.54 %
Benchmark -0.01 % -0.33 % -0.35 % -0.24 %
Difference -0.47 % -0.43 % -0.41 % -0.31 %

Annual return over the last years (%)

This chart shows the fund’s performance as the percentage loss or gain per year over the last 10 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.
The index composition may change over time. The performance reported may therefore differ from the performance of the relevant index before its change. Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change. If no performance is given for a year following the year of creation, this will be because there is not enough data to provide investors with a reliable indication of this performance. "

The performances of the years prior to the material change have been blurred on the graph.

As of 01/10/2021, the index used as a benchmark, EONIA Capi 7d , has been replaced by ESTR Capi.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Share class -0,15 % 0,00 % -0,35 % -0,42 % -0,68 % -0,82 % -0,72 % -0,80 % -1,01 % -0,48 %
Benchmark 0,09 % 0,10 % -0,11 % -0,32 % -0,36 % -0,37 % -0,40 % -0,47 % -0,51 % -0,01 %
Difference -0,25 % -0,10 % -0,25 % -0,09 % -0,32 % -0,45 % -0,32 % -0,33 % -0,50 % -0,47 %

Excluding fees/taxes: taxes are not part of the performance calculation

Additional information

The returns listed above are provided on the basis of the Net Asset Value (NAV), net of commissions and reinvested income. All management fees and commissions are included in the calculation of past performance except for any entry and exit charges. Taxes are not included in the calculation of returns. The value or price converted into euros may be reduced or increased depending on fluctuations in the exchange rate. The fund is not a guaranteed investment. The NAVs are net of fees and are provided by the accounting department and the benchmark by the official providers.

Market developments (currency conversion, coupon, split, …) have an influence on the chart. This graph is provided for information purposes only and does not precisely illustrate the evolution of the fund's net assets. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses

Characteristics

Fund Characteristics

Fund name
Candriam Money Market Euro
Benchmark
ESTR Capi
SICAV Name
Candriam Money Market
Currency
EUR
Legal Form
Sub-fund of a SICAV under Luxembourg law
Fund type
UCITS
SFDR Category
Article 8
Creation Date
Term of the fund
The fund has no limited term
Domicile Country
Luxembourg
Management Company, having its registered office in Luxembourg
CANDRIAM
Depository Bank
CACEIS Bank, Luxembourg Branch
Transfer Agent
CACEIS Bank, Luxembourg Branch
Recommended investment horizon
6 months
Swing Pricing System
no
Swing Pricing Description
Swing Pricing is a mechanism by which the net asset value is adjusted upwards (or downwards) if the change in liabilities is positive (or negative) in such a way as to reduce for existing investors the portfolio restructuring costs linked to subscription/ redemption movements in the fund. On valuation days where the difference between the amount of subscriptions and the amount of redemptions of a sub-fund (i.e. net transactions) exceeds a threshold set beforehand by the Board of Directors, the latter shall be entitled to:
- value the net asset value by adding to the assets (in the case of net subscriptions) or deducting from assets (at net redemptions) a fixed percentage of the fees corresponding to market practices and reflecting the fees and/or conditions of liquidity when buying or selling securities; - value the securities portfolio on the basis of bid or ask prices;
- assess the net asset value by setting a level of spreads representative of the relevant market;
- The dilution mechanism must not exceed 2% of the net asset value, except in exceptional circumstances, as in the event of a sharp decrease in liquidity, which would then be detailed for the sub-fund concerned in the annual (semi-) annual report of the SICAV.

Tax, Charges & Fees

Management fees (max)
0.50 %
Redemption
0.00 %
Ongoing charges Date
Ongoing charges
0.64 %

Instrument

Name
C - Cap
Benchmark
ESTR Capi
Currency
EUR
ISIN
LU0093583077
Bloomberg Ticker
DXMMKEC LX Equity
Morningstar Ticker
F0GBR04BED
First NAV Date
15/07/1990

Orders

NAV Date
D
NAV Calculation Day
D+1
Frequency valuation
daily
Subscription Cut off
D 12:00
Redemption Cut off
D 12:00

The corresponding time zone is the one associated with the fund's domicile.

Risks

SRI Date
SRI Value
1
Definition
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.
The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.
It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
Main Risks

Counterparty Risk: When the fund carry out over-the-counter transactions (i.e. involving instruments not listed on the markets), they are exposed to a risk of default by the counterparty to the transaction.

Credit risk: It constitutes the risk that an issuer or a counterparty default. This risk includes the risk of changes in credit spreads and default risk. The level of credit risk is usually evaluated by using “ratings” representing a comparative assessment of the credit quality (solvency level) of an issuer, issuer or portfolio. “High Yield” investments present the lowest rating levels and therefore a high credit risk.

ESG Investment Risk: ESG investment risk refers to the risks arising from the inclusion of ESG factors in the management process, such as the exclusion of activities or issuers and the inclusion of sustainability risks in the selection and/or allocation of issuers in the portfolio.

Sustainability Risk: The sustainability risk refers to any environmental, social or governance event or condition that could affect the performance and / or the reputation of issuers in the portfolio. It may be issuer specific, in line with their activities and practices, but may also be due to external factors.

Other Risks
Conservation risk Delivery risk Derivative risk Interest rate risk Legal risk Liquidity risk Operational risk Risk of conflict of interest Risk of loss of capital

Risk and reward indicators 30/12/2022

Fund
Volatility
0.10 %
Tracking error
0.07 %
Sharpe Ratio
-3.88
Beta
0.98
Information ratio
-6.24
Yield to Worst
0.62

Money Market

Money Market Fund Metrics (10/01/2023)

Weighted Average Maturity, in days (WAM) 30
Weighted Average Life, in days (WAL) 135
Net Yield (%) 2.04
Total value of Assets 1.814.632.571,20

ESG

SFDR Category: Article 8

OUR APPROACH TO SELECTING ENVIRONMENTAL OR SOCIAL INVESTMENTS FOR THE CANDRIAM FUNDS REFERRED TO IN ARTICLE 8 OF THE SFDR*:

The fund’s investment strategy aims to promote environmental or social characteristics, or a combination of these characteristics, provided that the entities in which the investments are made apply good governance practices. To achieve this objective, the management team makes discretionary investment choices based on an economic/financial analysis process and an internal analysis of environmental, social and governance (ESG) criteria, based in part on data provided by external service providers.

a. ESG selection criteria:

The internal analysis of ESG criteria consists in selecting the issuers:
• best positioned to meet the challenges of sustainable development;
• that comply with the principles of the United Nations Global Compact (i.e. human rights, labour law, the environment, anti-corruption), and which are therefore less exposed to the risks associated with these themes; and
• that are not engaged in controversial activities such as armament (securities of a company whose activity consists of manufacturing, the use or possession of anti-personnel mines, cluster bombs and/or depleted uranium weapons), tobacco, thermal coal;

b. Selection methodology:

The issuers favoured by the management company are subject to a dual analysis:
• Analysis of their activity to assess their alignment with the major challenges of sustainable development. For example, regarding the transition to a circular economy, the management company will consider a company producing recycled steel to be more sustainable than a company producing steel exclusively from iron ore; and
• Analysis of how the company manages players interacting with the company: its employees, its customers, its shareholders, its suppliers and the environment. Here too, the management company will favour companies that adopt the most sustainable practices given their sector. For example, with regard to relations with its clients, the management company will favour pharmaceutical companies with balanced pricing practices and commercial policies. Similarly, with regard to relations with their employees, the management company attaches great importance to the fight against discrimination and compliance with social standards.

c. A team of ESG analysts is responsible for assessing the selection criteria:

ESG analysis and selection are carried out by a dedicated team of ESG analysts within Candriam. This team is made up of specialists whose mission is to analyse the exposure of companies and governments to the risks and opportunities associated with sustainable development. Selection criteria are expected to evolve over time, based on advances in ESG research and changes in company practices.

For more information on the environmental or social characteristics of our investments, as well as the integration of sustainability risks, please refer to Candriam’s transparency policies and codes and SFDR Article 8 fund sustainability information (available on our website: https://www.candriam.com/en/professional/sfdr/) as well as the fund prospectus (available on our website https://www.candriam.com)

* SFDR is the acronym given in Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on the publication of sustainability information in the financial services sector

Documents

  • ISIN
Languages

ESG documents

Shareholder documents

Annual and semi-annual reports

Factsheets and fund comments

Other important information

This is a marketing communication. Please refer to the prospectus of the funds and to the key information document before making any investment decision. This marketing communication does not constitute an offer to buy or sell financial instruments, nor does it represent an investment recommendation or confirm any kind of transaction, except where expressly agreed. Although Candriam selects carefully the data and sources within this document, errors or omissions cannot be excluded a priori. Candriam cannot be held liable for any direct or indirect losses as a result of the use of this document. The intellectual property rights of Candriam must be respected at all times, contents of this document may not be reproduced without prior written approval.
Warning: Past performance of a given financial instrument or index or an investment service or strategy, or simulations of past performance, or forecasts of future performance does not predict future returns. Gross performances may be impacted by commissions, fees and other expenses. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change.
In respect to money market funds, please be aware that an investment in a fund is different from an investment in deposits and that the investment’s principal is capable of fluctuation. The fund does not rely on external support for guaranteeing its liquidity or stabilizing its NAV per unit or share. The risk of loss of the principal is borne by the investor.
Candriam consistently recommends investors to consult via our website https://www.candriam.com the key information document, prospectus, and all other relevant information prior to investing in one of our funds, including the net asset value (“NAV) of the funds. Investor rights and complaints procedure, are accessible on Candriam’s dedicated regulatory webpages https://www.candriam.com/en/professional/legal-information/regulatory-information/. This information is available either in English or in local languages for each country where the fund’s marketing is approved.
According to the applicable laws and regulations, Candriam may decide to terminate the arrangements made for the marketing of a relevant fund at any time.
Information on sustainability-related aspects: the information on sustainability-related aspects contained in this communication are available on Candriam webpage https://www.candriam.com/en/professional/sfdr/. The decision to invest in the promoted product should take into account all the characteristics or objectives of the promoted product as described in its prospectus, or in the information documents which are to be disclosed to investors in accordance with the applicable law.

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